Any questions?

How companies can save on foreign exchange?

February 18, 2016

Polish businessmen who are successful in foreign markets often wonder how not to overspend money while making transactions with currency exchange – which is common when importing or exporting goods. They have many options to choose from – the offers of the banks, stationary and Internet exchange offices. The fundamental question is which one will be best for them and, above all, what to look for when selecting the offer, which will not be generating considerable costs associated with the currency exchange at unfavorable rates.

Currency exchange and foreign transfers online

It is worth noting that the Internet currency exchange is much cheaper than the execution of such order in the banks. By selecting the option "Internet" we can be sure that we minimalize costs associated both with currency exchange and transfers of sources and the time - which (as we well know) is also money.

The service is available online 24/7 and can generate savings through favorable exchange rates ant the minimal spread (the difference is usually around 100 to 300 basis points). Exchange rates and spread are much higher in the banks and stationary exchange offices. As a result, the exchange rate offered to the customer differs significantly from the average rate. However, in Internet exchange offices, where the spread is minimal, transactions are concluded at much more favorable rates, so you can save up to 7%.

Let’s compare the costs of exchanging foreign currency online and in one of the banks, assuming that we sold some kind of goods to a trading partner in Germany for EUR 10 000.

Name of

the institution

Buying rate

Selling rate

Average rate

Spread

The amount received

from the transaction

Savings

Trejdoo.com

4,1977

4,2163

4,2007

0,0186

41 893,05 PLN

1 105,05 PLN

Bank

4,0788

4,3312

4,2007

0,2524

40 788,00 PLN

-

Own description

Negotiated exchange rates

A convenient service is also the ability to negotiate exchange rates. In Internet exchange offices you can negotiate the rate if you want to exchange the equivalent of 1 000 PLN or more, which is undoubtedly a big plus for businessmen. In the banks negotiations limit is the equivalent of 10 000 PLN for a single transaction, and in stationary exchange offices there is no such possibility. Those kind of „restrictions” provide inconvenience for the businessmen. That is why it is worth to check which exchange office offers this service. Trejdoo platform gives the ability to negotiate exchange rates from 1000 units of the currency, so that in each transaction of exchange there is the possibility of negotiation.

The suport from FX dealer

It is known that businessmen are making a turnover of pretty large amount of money. The decision of using the services of the Internet exchange office can sometimes be quite difficult. Therefore, such companies offer the suport from FX dealer, who can explain how the platform works and advise when to exchange currency for the most appropriate rate. How to do it best? Just make a phone call to the FX dealer to dispel any doubts. The conversation lasts couple of minutes and can bring measurable benefits.It takes a couple of minutes to exchange currency on the Internet, send funds to the business partner and save time and money. An essential part of business is profit. So it is worth considering and comparing the services available on the market.

Internet exchange platforms – benefits for business customers

January 29, 2016

Internet exchange platforms are become more and more popular among business customers. Not only the single swiss franc borrowers can now benefit from their services but also big companies. Transactions of medium and big companies are getting serious source of revenues for internet platforms. Import and export companies look for favorable exchange rates outside the banks. Why internet exchange platforms? For whom?

Safety and convenience

Companies operating on the currency market deal with large amounts and rely on the security of transactions. Customers do not enter risky deals because of any extra profits. Currently the internet exchange platforms operate as a European payment institutions supervised by the Financial Supervision Authority. In addition, there are exchange platforms whose owner is listed on the Warsaw Stock Exchange. This increases the security and transparency of transactions, because we are sure that we send money to a proven and reliable partner.

Internet exchange platforms work with all local banks making any payments. So customers' funds are transferred within one or several banks. These are always non-cash settlements carried out by common systems of payments. There is no need to open additional bank accounts, including accounts in foreign currencies.

Speed

Internet exchange platforms mean also fast transactions. They work around the clock. Buying or selling currency does not depend on the working hours of bank dealers or working hours of bank branches. Platforms that use the currency exchange solutions offer the best exchange rates around the clock. Transactions are concluded directly between market participants.

Platforms also work with foreign banks. After the exchange transaction a customer can send the purchased currency directly to the recipient in the country or abroad. Such a transfer (e.g. from Ireland) comes almost immediately because in fact funds are transferred within one or two banks in Ireland. There are of course transactions with physical delivery, not speculative ones.

Savings

Using this type of platform could give even 40-50% of savings on the cost of exchange rates in comparison with the banks. In contrast to the interbank foreign exchange market using this kind of currency exchange is without the banking spread (so disliked by companies). Platforms have much lower infrastructure and other costs what also affects the lower costs of these transactions for customers.

A wide range of services

Platforms not only offer foreign exchange transactions. Starting cooperation customers also benefit from rapid domestic and foreign payments, forward fx transactions, escrow accounts (so important for start-ups in order to improve their own credibility), loans or the wide range of payment cards. This trend is also accompanied by a new EU directive (regulation PSD2) which will free up the banking services for non-banking providers. Currency exchange will be made without having to log in to the banks and all transactions will become even more convenient for customers.

Access to information

Customers receive professional service of market news. Dealers provide also telephone support which is also available in banks but only for large customers who bring larger amounts. Platforms do not limit this access and even encourage customers to personal contact. This allows you to be in touch with customers and respond quickly to their needs. Today's customer is increasingly looking for a quick and favorable help in many products and services at the same time.

Trejdoo.com may be used both by individual and business customers. All offered products and services allow customers to generate cost savings mainly due to the fact that currency exchange rates are without banking spread. Rates are more attractive than in banks and stationary exchange offices.

Currency Exchange Online - security

January 5, 2016

Currently we have a revolution on the currency exchange market. Internet exchange offices are full of offers and promotions for new as well as loyal customers. However, before using the services of such a place one should pay attention to whom such a service is dedicated and what is its legal status.

For whom?

The answer is very simple. Internet exchange offices are for people over 18 years old and for those who are fully registered on selected platforms. Registration is simple. It usually consists of several steps in which the user is required to give the real personal data. Providing this data really improves communication and assistance in emergency situations. The system can also verify customer and send all information connected with certain user’s account.

Trust and security

It is very important to check legal status of internet exchange office. They are working under Code of Commercial Companies and therefore they can be divided into joint-stock companies and limited liability companies. Some of them are licensed payment institutions and are under Polish Financial Supervision Authority.

Writing about safety of internet exchange office one should know what exactly is the scope of its services. This is strictly defined in the payment services act. There are detailed information concerning deposits and cash withdrawals from a payment account, transfers, payments and other activities. Opening an account in internet exchange office, so called portfolio, we must also take into account issues related to the security of financial transactions and foreign exchange transactions. These issues are also regulated by payment services act. We can find there, among others, on what bank accounts our funds are kept. Security is very important, especially when it comes to customer’s own money. It is wise to pay attention to above mentioned matters when depositing money in certain internet exchange office.

Trejdoo.com & Open Day Wilanów 2015

A sunny day is an ideal time to get to know your neighbour and getting to know your neighbour was the theme at a local event held in Warsaw’s Wilanow which Trejdoo.com was invited. We were very happy that the event allowed us to get to know you better and personally, thank you very much for all the kind words.

The event attracted a lot of people, many of whom visited us and wanted to learn how to make their credit in CHF lower or what to do to make sure that their holiday will be without any additional or unnecessary costs. These questions are often asked during a time of unstable currency exchange rates and increasing fees for currency conversion and are very important. The Trejdoo.com team willingly advised people how to use our products on the trejdoo.com platform to get more attractive exchange rates or how to save money using our currency card Trejdoo.

We are glad that we could participate in such a great event, and we want to thank you for your trust you and wish you a wonderful holiday with our card and always a very good currency exchange rate.

Trejdoo.com & Speedway Grand Prix Prague 2015

An Incredible experience, unique races, the roar of engines and the smell of methanol – this is what a speedway meeting is like and the latest Trejdoo.com attended took place on 23th of May at the Marketa Stadium in Prague.

Trejdoo.com was an event partner in Prague and was very popular among the host of fans from all around the world, including Polish and British. The Fan zone was the center of attention with sport’s big stars and was a magnet for the fans of speedway.

During the excellent racing, Team Trejdoo.com encouraged fans to join and use our services. Our products were met with great interest among fans and professionals and the ability to quickly register and receive a unique gadget helped a lot in gaining new range of customers. Currency exchange, money transfers in cooperation with Czech banks and booking rates were the most popular services.

The excitement of the fan zone and the thrilling finale of the competition met the expectations of the fans and we congratulate the victor Tai Woffinden of GB, with Poles Jarek Hampel and Marciej Janowski coming 2nd and 3rd.

We are glad to have participated in such a great event and would like to thank all our new customers for your interest and trust.